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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2018

Income Taxes [Abstract]

Schedule of provisions for income taxes

		Three Months Ended
		September 30,
		2018				2017
Provision for Income Taxes
Current Tax Provision PRC		$	(82	)		$	1,211,668
Deferred Tax Provision PRC			(538,149	)			(706,503	)
Total Provision for Income Taxes		$	(538,231	)		$	505,165

		Nine Months Ended
		September 30,
		2018				2017
Provision for Income Taxes
Current Tax Provision PRC		$	3,484			$	2,993,819
Deferred Tax Provision PRC			(1,629,706	)			(1,887,891	)
Total Provision for Income Taxes		$	(1,626,222	)		$	1,105,928

Schedule of deferred tax

		September 30, 2018				December 31, 2017
Deferred tax assets (liabilities)
Depreciation and amortization of property, plant and equipment		$	6,105,630			$	5,123,762
Impairment of property, plant and equipment			440,080				440,080
Miscellaneous			702,113				712,517
Net operating loss carryover of PRC company			543,988				296,200
Total deferred tax assets			7,791,811				6,572,559
Less: Valuation allowance			-				-
Total deferred tax assets, net		$	7,791,811			$	6,572,559

Schedule of reconciles the statutory rates effective tax rates

		Three Months Ended  September 30,
		2018				2017
PRC Statutory rate			25.0	%			25.0	%
Effect of different tax jurisdiction			0.0				(0.5	)
Effect of reconciling items in the PRC for tax purposes			2.7				0.3
Over provision in previous years			0.0				(2.4	)
Change in valuation allowance			0.0				1.9
Effective income tax rate			27.7	%			24.3	%

		Nine months ended  September 30,
		2018				2017
PRC Statutory rate			25.0	%			25.0	%
Effect of different tax jurisdiction			0.0				(0.3	)
Effect of reconciling items in the PRC for tax purposes			(1.8	)			0.3
Over provision in previous years			0.0				(1.1	)
Change in valuation allowance			0.0				1.2
Effective income tax rate			23.2	%			25.1	%

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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